The dust is barely resting since the shocker that was Brexit and uncertainty is still clearly being felt by many industries and the translation industry could be in for a major boost.
Here are a few key notes on why it is highly likely that the translation industry will get a boost from Brexit.
A drop in the Pound
The British pound faced an all-time drop since the Brexit and it is yet to regain its standing, the drop automatically means the value of UK products become a lot cheaper for bigger markets like the US. Therefore, a UK-based translation service is likely to win more work and grow.
Loss of English to the EU
English is still one of the most popular languages in the EU and most documents are translated from it. Due to the uncertainty lingering now, more countries are beginning to claim their language representation, Malta for instance already has Maltese as it EU language.
With Britain exiting the EU, English may lose its place and this will be an opportune moment for translators specializing in other languages other than English. There is likely to be a boost to the translation industry outside the UK whilst the uncertainty is prolonged and the shortcomings of the pound continues.
Companies are more likely to leave the UK and fewer foreign companies will less likely invest in the UK. This will mean fewer translation jobs within the UK but more around Europe were translation will automatically be needed as investors settle there.
Brexit presents this quagmire for most industries and translators are challenged to find a unique selling point for themselves and take advantages of the opportunities that Brexit provides.
You can read more articles on Brexit and translation at ytranslate.